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A Conservative MP has been found guilty of racially abusing an activist by telling him to “go back to Bahrain”.

Bob Stewart showed “racial hostility” towards a protester during a demonstration outside a Foreign Office building, a court heard.

The MP for Beckenham in southeast London told activist Sayed Ahmed Alwadaei “you’re taking money off my country, go away!” during a row in Westminster on December 14 last year.

Mr Alwadaei shouted: “Bob Stewart, for how much did you sell yourself to the Bahraini regime?”

During a heated exchange, Stewart replied: “Go away, I hate you. You make a lot of fuss. Go back to Bahrain.”

In footage played during a trial at Westminster Magistrates’ Court on Friday, he also said: “Now shut up, you stupid man.”

Chief magistrate Paul Goldspring found the MP guilty of a racially aggravated public order offence.

He said Stewart will not be jailed.

Activist Sayed Ahmed Alwadaei, who was allegedly racially abused by Beckenham MP Bob Stewart, outside Westminster Magistrates' Court, London. Mr Stewart is appearing at the court charged with a racially aggravated public order offence after an incident outside the Foreign Office's Lancaster House on December 14 last year. Picture date: Wednesday July 19, 2023.
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Sayed Ahmed Alwadaei

The Liberal Democrats have called for Rishi Sunak to kick Stewart out of the parliamentary Conservative Party.

The Metropolitan Police launched an investigation into the incident after a complaint was made by Mr Alwadaei, who has said he was living in exile after being tortured in the Gulf state.

During the one-day trial, Mr Alwadaei alleged that Bahrain was “corrupt” and a “human rights violator”, and said it was his right to protest against the MP’s involvement with the state.

Asked how he felt after the incident, the activist said: “I feel that I was dehumanised, like I was someone who is not welcomed in the UK.

“Because of my skin colour, because of where I came from, he feels I am taking money from his country.”

‘Racial hostility’

Mr Alwadaei also claimed that if he returned to Bahrain, he would “undoubtedly be killed and tortured”.

Prosecutor Paul Jarvis said Stewart had “demonstrated racial hostility towards Mr Alwadaei by way of his comments”, and while he was “not motivated by racial hostility”, he had demonstrated it.

In response to the accusation, the MP said it was “absurd” and “totally unfair”, stating he was “not a racist”.

He added: “My life has been, I don’t want to say destroyed, but I am deeply hurt at having to appear in a court like this.”

The 74-year-old politician told the court he had “no idea” who Mr Alwadaei was when the incident occurred and that he used the word “hate” because of what the protester was saying.

Stewart added: “‘Go back to Bahrain’ meant why don’t you go back to Bahrain and make your point there?”

‘Honour at stake’

Asked if he accused Mr Alwadaei of taking money from the UK, the MP said: “I made the assumption he too was living in this country and was benefiting from living in this country.

“I certainly didn’t mean he was a freeloader.”

But he defended his reaction to the protester, telling the court: “He was saying that I was corrupt and that I had taken money. My honour was at stake in front of a large number of ambassadors.

“It upset me and I thought it was extremely offensive.”

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Upbit operator Dunamu posts $165M in profit in Q3, up over 300% YoY

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Upbit operator Dunamu posts 5M in profit in Q3, up over 300% YoY

Upbit operator Dunamu reported a surge in profitability for the third quarter of the year, posting 239 billion won ($165 million) in net income.

The figure marks an increase of more than 300% compared to the same period last year, which stood at $40 million, local news outlet Chosun Biz reported, citing regulatory filings with the Financial Supervisory Service.

The filing reportedly showed strong momentum across all key metrics. Consolidated revenue climbed to $266 million, up 35% from the previous quarter, while operating profit rose 54% to $162 million. Net income also jumped 145% quarter-over-quarter from $67 million.

The company attributed its improved performance to rising trading activity as global digital asset markets rebounded through 2024 and 2025.

Related: South Korea’s bank-first stablecoin approach lacks logic, says Kaia chair

Dunamu credits US crypto bills for boost

Dunamu said investor confidence received a boost following regulatory developments in the United States, including the passage of the Genius Act, the Clarity Act and the Anti-CBDC Bill. These measures, the company said, contributed to renewed institutional participation and steadier market conditions.

Dunamu has faced heightened reporting requirements since 2022, when it was added to the list of corporations subject to external audit due to having more than 500 shareholders.

Notably, several major crypto firms experienced a revenue increase last quarter. Bitcoin mining company TeraWulf and Singapore-based cloud Bitcoin miner BitFuFu doubled their third-quarter revenue from the previous year.

Related: South Korea ramps up crypto seizures, will target cold wallets

Naver Financial to acquire Dunamu

As Cointelegraph reported, Naver Financial, the fintech arm of South Korea’s largest internet company, is preparing to acquire Dunamu. Naver reportedly plans to bring Dunamu in as a subsidiary through a share swap, with board approvals expected soon.